Ensuring continuity of Satyam's business our priority: Karnik

PTI|

Jan 11, 2009, 01.45 PM IST

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NEW DELHI: Kiran Karnik, who has been appointed as the one of three members in the newly constituted Board of Satyam Computer on Sunday said ensuring business continuity of the IT major will be the Board's first priority which is likely to meet within 24 hours.

"The first priority of the Board will be to ensure business continuity. We also have to make sure that India continues to be a safe, secure and reliabledestination for IT ," past Presidentof Nasscom Kiran Karnik told media.

Talking about the appointment of seven other members to the Board he said, "It's too early to comment on this. We will have to consult with the government for that. As of now I have not received any communication from the government in this regard."

The government today nominated noted banker Deepak Parekh, ITexpert Kiran Karnik and former SEBI member C Achutan to the IT company's Board.

The three-member board would meet within 24 hours to decide on the remaining up to seven members along with the Chairman, Corporate Affairs Minister Prem Chand Gupta told reporters in a hurriedly called press conference two days after disbanding the truncated Satyam Board.

Karnik, the recipient of the Padma Shri awardalso said that the three newly named board members would meet as soon as possible and that the first priority is the arrangement of an operational management.

"I dont know when and where the Board will meet. Ideally, the Board meeting should be in Hyderabad," he added.

Nasscom also welcomed the governments move to appoint Karnik as a member of the new Board. "He is still an active member of the the industry body. He had in depth understanding of the industry. his experience as an Industry insider will come in handy,"Nasscom Chairman Ganesh Natarajan said.

Karnik was the Managing Director at Discovery Networks in India from 1995-2001. He spearheaded the launch of Discovery Channel in South Asia in August 1995 and Animal Planet in 1999. Karnik has worked for over 20 years with the Indian Space Research Organisation.

Country's second largest software exporter Infosys also welcomed the move. "I am happy that such illustrus people has been appointed to the board . Its a well thought off move to restore confidence and assure customers that services will be restored," Infosys Director HR Mohandas Pai said.